Primary memory, also known as main memory, is crucial for a computer's operation, as it temporarily holds data and instructions currently in use, but it has a limited capacity and is volatile. It comprises two main types: RAM, which is faster and allows read/write operations but loses data when powered off, and ROM, which is non-volatile and used for permanent storage of essential programs and data. Various RAM types exist, including SRAM, DRAM, while ROM includes PROM, EPROM, and EEPROM.